Cambridge University Press 0521644917 - Ethics out of Economics John Broome Index More information Index additivity, 12–14 cardinal and ordinal, 23, 25, 164, 203 age, 112, 122, 208, 215 chain, 124, 147–8 aggregation, Chang, Ruth, 251 of preferences, 186 changing one’s mind, 157 of wellbeing, 12, 46, 51, 65, 201, 219–20 claims, 115–21 over time, 189 collapsing principle, 129–32, 134–6, 140 see also weighing commensurabilism, 151–4, 159 Allais, Maurice, 247 comparative thinking, 9–11, 163–4 Allen, R. G. D., 243 comparatives, indeterminate, 123–44 Arrow, Kenneth, 39, 243, 244 compensation test, 177, 182 Arthur, W. B., 254 constituency principle, defined, 229 Atkinson, Anthony, 250 cost–benefit analysis, 44–67, 177–82, 183–95 atomless set, 97 and market prices, 48–52, 57–60 distributional problems, 50–2 Bailey, Martin, 246 cost-effectiveness analysis, 190 Barro, R. J., 249 Cowen, Tyler, 54, 245 Bayesianism, 157–60 creating a person, value of, 16, 167–8, 195, Bayes’s Rule, 6 208–10, 217, 222–6, 228–42 Bentham, Jeremy, 19, 27, 75, 243 see also population, value of Bernoulli, Daniel, 24, 25–6, 202 Culyer, A. J., 206 Bernoulli’s hypothesis, 202–3 betterness, Dasgupta, Partha, 238–42, 245, 254 conditional, 234–8 Davidson, Donald, 247 formal representation of, 25, 28, 110, 206 death, harm done by, 10–11, 12, 170–3, general, 9 235–7 indeterminate, 124, 138–44 see also life, goodness or value of individual, 9 Deaton, Angus, 243, 253 neutral, 143 Debreu, Gerard, 244 relation, 9, 162, 229 decision theory, 8, 15, 21–6, 68, 76, 163, relative, 238–42 202–3 transitivity of, 162, 209, 223–4, 230–4 as a theory of value, 104–6 vagueness of, 142–3 axioms, 8–9, 23, 68, 70, 72, 80, 92, 97–8, see also good 158, 162–3, 246 Blackorby, Charles, 220, 225, 250, 254 Bolker–Jeffrey, 91–110 Boadway, R., 252 causal, 92, 103–4 Bolker, Ethan, 15, 91–110 evidential, 103–6 Boolean algebra, 97–8 decisions, Border, K. C., 249 and reason giving, 160 Bossert, Walter, 254 consistency of, 156–8 Boyle, Michael, 206–7, 209, 253, 254 democracy, 5–8, 95, 192–5 Buridan’s ass, 4, 113, 155 deprivation, 172–3 Burns, Linda, 123n desert, 111, 116 263 © Cambridge University Press www.cambridge.org Cambridge University Press 0521644917 - Ethics out of Economics John Broome Index More information 264 Index dimensional concepts, 123–4 Gibbard, Allan, 249 diminishing marginal value, 49, 56, 59, 66 Glover, Jonathan, 250 discounting the future, Godwin, William, 115–16 commodities, 13, 14, 44–67, 245 good, constant-wellbeing commodities,61–3,246 absolute, 164–6 deformities, 61–2 compared with what ought to come in a life, 198–9, 205–6 about, 7, 8, 64–5, 105, 183, 193–4, 232 life-saving, 61–3 conditional, 236–8 wellbeing, 44–7, 65–7, 206, 244–5 estimation of, 84 Donaldson, David, 220, 225, 254 interpersonal comparisons of, 29–32, Drèze, Jacques, 252 37–43, 207–8 Dummett, Michael, 250 meaning and nature of, 3, 7, 21, 24, 162, Dutch book, 69, 157, 159, 246 206–7 measurement of, 201–3 Edgeworth, Francis Y., 20, 22, 27 relative, 232, 238–42 Eells, Ellery, 249 see also Betterness Ellsberg, Daniel, 26, 28 Gordon, D. B., 249 Elster, Jon, 250 Gorman, W. M., 213 Epicurus, 10–11, 171–3, 236, 243, 254 Griffin, James, 145–6, 152–4, 159 epistemicism, 151–2 Gudex, Claire, 253 equality and inequality, 141 value of, 91, 94, 207 Hammond, Peter, 94, 109, 220, 248, 249 equality of goodness, 127–8, 149–51, 155–6 Harper, William, 249 rough, 152–4 Harris, John, 252 equilibrium, economic, 62, 63–4 Harsanyi, John, 15, 26, 29, 32–7, 39–40, Eraker, Stephen, 253 91–3, 202, 219–20, 243, 244, 254 ethics and economics, relationship between, Heal, Geoffrey, 245 1, 2, 8, 11, 163–4, 203 health economics, 12, 186–7, 189–91 ex-post approach, 94–6, 97 healthy-year equivalents, 186–7 examples, hedonism, 10–11, 42–3, 168, 172 academic and financial analyst, 31–43 Heyd, David, 255 choice of career, 126, 145–61 Hicks, John, 243 dangerous mission, 113–20 Horgan, Terence, 249 expanding money supply, 104–5 horizontal equity, 117 flood, 5–8 Horwood, Sargent, 206–7, 209, 253, 254 global warming,45–6,54,67,215–16,219 Hotelling, H., 246 Maurice and mountaineering, 70–87, 247 Hume, David, 20, 80–2 road building, 183–95 Humean account of rationality, 68–87 expected utility, 23–6 moderate and extreme, defined, 68 expected utility theory, 91–110, 186, 188–9, Hurley, Susan, 244, 247 197, 211, 219, 220, 225–6 see also decision theory imprudence, 22, 56–7, 65–7 incommensurable values or goods, 15, 43, fairness, 12, 15, 111–22, 196, 207, 208 121, 123–61 Feldman, Fred, 243, 251 practical importance of, 151, 154–7, 154 Fine, Kit, 250 independence assumption, 98, 147, 212–13 Fishburn, Peter, 109, 249 see also separability; sure-thing principle free rider, 104 indifference, rational principles of, 74–7, 247 Frydman, Roman, 249 indifference curves, 55–7 functionalism, individuation of alternatives, 70–5, 247 for belief, 159–60 instrumentalism, 15, 69–70 for preference, 78–9, 81, 248 intentions, 160–1 future people, 51–2, 59, 63–5, 189, 195 interest rates, 55, 60, 63 own, 52–5, 60 Gafni, A., 252 gambles, 97, 99, 101, 109, 199–203 Jackson, Frank, 248 © Cambridge University Press www.cambridge.org Cambridge University Press 0521644917 - Ethics out of Economics John Broome Index More information Index 265 Jeffrey,Richard,15,70,91–110,166,248,249 Newcomb problem, 104–5 Jevons, William Stanley, 19, 27 Nozick, Robert, 119, 249 Johnston, Mark, 85 Jones-Lee, M. W., 191, 254 O’Driscoll, Gerald, 249 justice, 118 Olson, Mancur, 246 opportunity cost, 58 Kahneman, Daniel, 244, 252 ordinal, see cardinal and ordinal Kamm, Francis, 252 ordinalism, 29–30, 40–1 Kolm, Serge-Christophe, 36–7, 244 organ transplants, 111, 121 Kornhauser, Lewis, 250 Kuhse, Helga, 209, 226 Paretian assumption, 92, 105, 106, 107 Pareto comparisons, 139, 142–3 Lewis, David, 83, 85, 247, 248, 249 Pareto criterion, 177, 181 liberalism, 5–8 Parfit, Derek, 54, 58–9, 60–1, 167–9, 205, life, 209, 226, 231, 243, 245, 246, 254 empty, 168–70 passions, 81–2 goodness or value of, 11–14, 15–16, 61–3, Peacocke, Christopher, 141 166–73, 177–82, 183–95, 196–213, personhood, 13–14, 154 214–27 Pettit, Philip, 248 quality of, 198–207 Philips, P. R., 191 saving of, 111, 121–2 Pigou, A. C., 27, 64, 66, 205, 243 shape of, 12–13, 198, 204, 214–15 pleasure, 19–21, 75, 169, 236 value of in economics, 177–82, 183–95, Pliskin, Joseph, 198, 203, 212–13, 253 196–213 population, value of, 115, 192, 217, 220, worth living, 166–9 222–3, 225–6 Lockwood, Michael, 252 see also creating a person, value of Loomes, Graham, 191, 253 preference, lotteries, 111–14, 119–21, 197, 213 about means and ends, 68–9 for tie-breaking, 112–13, 121–2 acquisition of, 83 Lucretius, 254 and belief, 83 and desire, 9–10, 79–80 McClennen, Edward, 247, 250 and evaluation, 83–6 Machina, Mark, 246 as a basis of value, 185, 189–91 McKenzie, Lynda, 253 between lives, 197–200, 211 McMahan, Jeff, 171 causes of, 32–7, 40–1 Marglin, Stephen, 64–5, 194, 245, 246 coherent, defined, 92 Marshall, Alfred, 20, 27 completeness of, 246–7 means and ends, 68–9, 160–1 consistency of, 68, 71, 75, 76–7, 78, 86–7, medical decision making, 1, 12, 196, 214 92–3, 246 Mehrez, A., 252 dependent on probabilities, 6–7, 69, 192 mere addition paradox, 231, 232 extended, 29–43 metaphysics, 13–14 formal representation of, 21, 23, 28, 33–4, Mill, John Stuart, 19, 27, 243 92–4, 99, 186, 198–9 Mirrlees, J. A., 243 intrinsic, 68–9 Mishan, E. J., 178–80 irrationality of, 191–2, 4 Miyamoto, John, 253 knowledge of, 77–86 money pump, 69, 74–5, 246 meaning and nature of, 4, 77–86 Moore, G. E., 169 over propositions, 96, 248 Morgenstern, Oscar, 26 practical and nonpractical, defined, 71 Morton, Adam, 123n, 134, 232, 250 rationality of, 23, 68–87 Muellbauer, John, 244, 253 relation, 8, 162 social, see social preferences Nagel, Thomas, 10–11, 171–3 transitivity of, 8, 68, 70–7, 80, 163 Narveson, Jan, 115, 209, 222–4, 228 preference-satisfaction theory of good, 3–8, naturalism, 169–70 11, 14, 21–2, 30, 40–1, 197, 201, 205–6 needs, 116, 119 ideal version, 4–5, 30, 41 © Cambridge University Press www.cambridge.org Cambridge University Press 0521644917 - Ethics out of Economics John Broome Index More information 266 Index prices, see also independence assumption; sure- and marginal values, 48–9 thing principle of future commodities, 52–8 separateness of persons, 116 principle of personal good, 224–6 Shepard, Donald, 198, 203, 212–13, 253 prisoners’ dilemma, 102–6 side constraints, 114–15, 118–19 probability, Sidgwick, Henry, 20–1, 27, 115 conditional, 96–7 Sikorski, Roman, 249 agreement theorem, stated, 93, 108 Sinclair, J. C., 209, 253, 254 disagreement, 6–7, 192–4 Singer, Peter, 209, 226, 254 objective and subjective, 7, 91–3, 109 Skyrms, Brian, 249 propositions, preferences over, 96, 248 Slote, Michael, 250 prospect, defined, 9, 94 Smith, Michael, 248 prudence and imprudence, 22, 56–7, 65–7 social choice theory, 220 public and individual morality, 1 social discount rate, see discounting the public goods, 50 future social preferences, 91–110, 142, 163 qalys, 12, 16, 189–92, 196–213 Paretian, defined, 92 quality of life, measuring, 198–207 social welfare function, 64–5 Solow, Robert, 244 radical interpretation, 247–8 St Petersburg paradox, 101 Ramsey, Frank, 46 standard configuration, defined, 125–6, rational principles of indifference, 74–7, 247 147–8 rationality, Stiglitz, Joseph, 48, 250 Humean account of, 68–87 supervaluation, 136–8, 142, 143–4 of preferences, 23, 68–87 sure-thing principle, 72, 211 Rawls, John, 244, 250 see also independence assumptions; Raz, Joseph, 141, 148, 154, 251 separability representation,